It is well documented that companies often fail to generate value through M&A. Studies published by Ernst & Young, Coopers & Lybrand, A.T. Kearney, and McKinsey all claim that 50% to 80% of deals fail to create value.
Yet such well-publicized evidence has done little to slow to torrid pace of M&A. Perhaps the pace is spurred on by the belief that many companies still manage to create shareholder value through M&A – which is, of course, true: The risk of failure may be high, but some companies do well time and again.
To understand what the winners do right, the Strategy practice conducted a series of interviews with executives responsible for M&A at highly acquisitive companies in the U.S. and in emerging markets. We identified a group of successful acquirers: acquisitive companies that outperformed their sector peer can help companies conduct M&A successfully, regardless of their size or situation.

Authors: Ajith Alexander, Janamitra Devan, Abhijeet Dwivedi

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